Article written by Charli and published at Agorapulse, leaders in social media management.
Is 2023 the year for securing a bigger social media budget? If you’re planning out the year ahead, you’ve certainly considered your marketing budget. In particular, your social media budget. Some 89% of CMOs and marketing executives are planning to increase their marketing budgets in 2023, according to a survey by Matter Communications. And that percentage stacks up with other research. 58% of CMOs plan to outsource more to marketing agencies in 2023 and will increase their budgets to do so.
So that’s great … Let’s all increase our social media budgets. Before we get to that part, however, we need to look at the reasons why your clients (if you’re an agency) or boss (if you’re in house) might be hesitant to loosen the budget reins.